American, Indian Firms Ink Industrial Park Lease Agreement

Jul 9 , 2022

Two private manufacturing firms have inked deals with the Industrial Parks Development Corporation (IPDC) for space inside two industrial parks. Parker Clay, based in the US, has leased space in Addis Abeba's Bole Lemi Industrial Park for the manufacture of leather products. Akshay Jain Company will be leasing 40,000sqm in Jimma Industrial Park to set up avocado oil, biodiesel, and bio-fertiliser manufacturing plants. Led by Sandokan Debebe, the state-owned IPDC oversees over a dozen industrial parks across the country, where over 100 companies, both domestic and foreign, are engaged in manufacturing. Sitting on 400hct, its flagship[ Hawassa Industrial Park was the first – and largest – to be inaugurated six years ago.


Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share insights into his cascade of experiences, the first round is expected to set off at the Inter-luxury H...


Wegagen Bank Launches its Mobile App

Embracing the digital realm, Wegagen Bank officially launched its mobile banking application last week. The App was inaugurated in Dire Dewa City, with Yehwalashet Zewdu, vice president of the Bank Enterprise Services, showcasing its service that provides secure and seamless financial services. According to Yehwalashet, Wegagen Mobile meets the evolving needs of its clientele in Amharic, English, Afan Oromo, Tigrigna and Somali languages. Incorporated in 1997, Wegagen Bank has grown to become...


Zemen Bank Joins IFC's Trade Finance Program with $30m Boost

Zemen Bank has secured a 30 million dollar trade finance guarantee from the International Finance Corporation (IFC) to boost the trade finance operations. A member of the World Bank Group, IFC has welcomed Zemen as the newest member of its Global Trade Finance Program aimed at supporting exports and imports. Signed by Dereje Zenebe, president of Zemen Bank and Madalo Minofu, country manager of IFC, the trade financing is part of the one-billion-dollar Africa Trade & Supply Chain Finance P...